Imc Home Equity Loan Trust 1998-3 – ‘8-K’ for 6/10/98

As of:  Wednesday, 6/24/98   ·   For:  6/10/98   ·   Accession #:  1024739-98-643   ·   File #:  33-96410-09   ·   Correction:  This Filing was Corrected by the SEC on 7/6/98. ®

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         5     18K 
 2: EX-1.1      Underwriting Agreement                                39    134K 
 3: EX-4.1      Pooling and Servicing Agreement                      142    579K 
 4: EX-99.1     Pool Level Detail                                      4     18K 

8-K   —   Current Report
Document Table of Contents

8-K
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================================================================================

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
 Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)
 June 10, 1998

 IMC Home Equity Loan Trust 1998-3
----------------------------------------------------
(Exact name of registrant as specified in its charter)

           Delaware                  333-48429-01            Being Applied For
-----------------------------         ------------           ------------------ 
(State or Other Jurisdiction)         (Commission             (I.R.S. Employer  
       of Incorporation)              File Number)           Identification No.)

c/o The Chase Manhattan Bank, as Trustee                                        
450 West 33rd Street, 15th Floor                                        
    New York, New York                                   10001
      -------------------                                 ----------
     (Address of Principal                                (Zip Code)
Executive Offices)                                      

 Registrant's telephone number, including area code (212) 946-8600
                                                    --------------

 No Change
------------------------------------------------------------
 (Former name or former address, if changed since last report)

================================================================================

8-K
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Item 2.  Acquisition or Disposition of Assets.                                  

Description of the Certificates and the Mortgage Loans                          

   IMC Securities, Inc. registered issuances of up to $5,000,000,000
principal amount of Home Equity Loan Asset Backed Certificates on a delayed or  
continuous basis pursuant to Rule 415 under the Securities Act of 1933, as      
amended (the "Act"), by a Registration Statement on Form S-3 (Registration File 
No 333-48429) (as amended, the "Registration Statement"). Pursuant to the       
Registration Statement, IMC Home Equity Loan Trust 1998-3 (the "Registrant" or  
the "Trust") issued $1,000,000,000 in aggregate principal amount of its Home    
Equity Loan Pass-Through Certificates, Series 1998-3 (the "Certificates"), on   
June 10, 1998 (the "Closing Date"). This Current Report on Form 8-K is being    
filed to satisfy an undertaking to file copies of certain agreements executed in
connection with the issuance of the Certificates, the forms of which were filed 
as Exhibits to the Registration Statement.                                      

  The Certificates were issued pursuant to a Pooling and Servicing
Agreement (the "Pooling and Servicing Agreement") attached hereto as Exhibit    
4.1, dated as of June 1, 1998, among IMC Securities, Inc. (the "Depositor"), IMC
Mortgage Company, as seller and servicer (the "Servicer") and The Chase         
Manhattan Bank, in its capacity as trustee (the "Trustee"). The Certificates    
consist of the following classes: The Class A-1, Class A-2, Class A-3, Class    
A-4, Class A-5, Class A-6, Class A-7, Class A-8 and Class A-9IO (the "Class A   
Certificates") and Class R Certificates (the "Class R Certificates" and,        
together with the Class A Certificates, the "Certificates"). Only the Class A   
Certificates were offered pursuant to the Registration Statement. The           
Certificates evidence, in the aggregate, 100% of the undivided beneficial       
ownership interests in the Trust.                                               

     The assets of the Trust initially include a pool of closed-end home
equity loans (the "Home Equity Loans") secured by mortgage or deeds of trust    
primarily on one-to four family residential properties. Interest distributions  
on the Class A Certificates are based on the Certificate Principal Balance      
thereof and the applicable Pass-Through Rate thereof. The Pass-Through Rates for
the Class A Certificates are as follows: Class A-1, 5.60465%; Class A-2, 6.27%; 
Class A-3, 6.16%; Class A-4, 6.23%; Class A-5, 6.36%; Class A-6, 6.40%; Class   
A-7, 6.72%; Class A-8, 6.34%; and, Class A-9IO, 5.35%. The Class A Certificates 
have the initial aggregate principal amounts as follows: Class A-1, $75,000,000;
Class A-2, $228,304,000; Class A-3, $198,193,000; Class A-4, $118,582,000; Class
A-5, $95,073,000; Class A-6, $100,867,000; Class A-7, $113,981,000; and, Class  
A-8, $70,000,000.                                                               

As of the Closing Date, the Home Equity Loans possessed the   
characteristics described in the Prospectus dated May 29, 1998 and the          
Prospectus Supplement dated May 29, 1998 filed pursuant to Rule 424(b)(5) of the
Act on June 9, 1998. In such Prospectus Supplement, a commitment was made to    
provide a description of the pool of Home Equity Loans, including loans acquired
between the Cut-off Date (June 1, 1998) and the Closing Date, in a current      
report on Form 8-K. Such description is attached hereto as Exhibit 99.1         

8-K
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Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.    

(a)      Not applicable                                                         

(b)      Not applicable                                                         

(c)      Exhibits:                                                              

             1.1      Underwriting Agreement dated as of May 29, 1998,
                          among IMC Securities, Inc., IMC Mortgage Company and
                        PaineWebber Incorporated, acting on its own behalf
                        and as representative of Bear, Stearns & Co. Inc.,
                        Morgan Stanley & Co. Incorporated, Deutsche Morgan
                   Grenfell Inc. and J.P. Morgan Securities Inc.

                4.1      Pooling and Servicing Agreement dated as of June 1,
                        1998, among IMC Securities, Inc. as Depositor, IMC
                       Mortgage Company, as Seller and Servicer, and The
       Chase Manhattan Bank, as Trustee.

           99.1     Description of the Home Equity Loans as of the
   Closing Date (June 10, 1998).

8-K
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SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the    
undersigned hereunto duly authorized.                                           

                         IMC HOME EQUITY LOAN TRUST 1998-3

                              By: IMC SECURITIES, INC., as Depositor

                By: /s/ Thomas Middleton
                                      --------------------------------------
                        Name:   Thomas Middleton
                                     Title:  President and Chief Operating
                           Officer

June 22, 1998                                                                   

8-K
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 EXHIBIT INDEX

                                                        [Enlarge/Download Table]


Exhibit No. Description                                                      Page No.

                                                                                     
    1.1     Underwriting Agreement dated as of May 29, 1998, among IMC               
            Securities, Inc., IMC Mortgage Company and PaineWebber                   
            Incorporated, acting on its own behalf and as representative of          
            Bear, Stearns & Co. Inc., Morgan Stanley & Co. Incorporated,             
            Deutsche Morgan Grenfell Inc. and J.P. Morgan Securities Inc.            

    4.1     Pooling and Servicing Agreement dated as of June 1,                      
            1998, among IMC Securities, Inc. as Depositor, IMC                       
            Mortgage Company, as Seller and Servicer, and The Chase                  
            Manhattan Bank, as Trustee.                                              

    99.1    Description of the Home Equity Loans as of the Closing Date              
            (June 10, 1998).                                                         

Dates Referenced Herein

				Referenced-On Page
This ‘8-K’ Filing		Date		First		Last			Other Filings
Corrected on:		7/6/98							None on these Dates
Filed on:		6/24/98
		6/22/98		4
For Period End:		6/10/98		1		5
		6/9/98		2
		6/1/98		2		5
		5/29/98		2		5
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